Portland General Electric (NYSE:POR) Price Target Raised to $48.00 at Barclays

Portland General Electric (NYSE:POR) had its price target raised by equities researchers at Barclays from $47.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target indicates a potential upside of 10.18% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Bank of America cut their price objective on shares of Portland General Electric from $46.00 to $43.00 and set an “underperform” rating for the company in a research report on Tuesday, December 24th. UBS Group reaffirmed a “neutral” rating and set a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research report on Friday, January 3rd. Jefferies Financial Group reduced their target price on shares of Portland General Electric from $47.00 to $42.00 and set a “hold” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $44.00 price objective (down from $50.00) on shares of Portland General Electric in a research note on Thursday, April 10th. Finally, StockNews.com downgraded shares of Portland General Electric from a “hold” rating to a “sell” rating in a report on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Portland General Electric has a consensus rating of “Hold” and an average target price of $45.89.

Portland General Electric Stock Performance

Shares of NYSE POR traded up $1.13 during midday trading on Tuesday, hitting $43.57. 203,281 shares of the stock traded hands, compared to its average volume of 1,024,343. The firm has a market capitalization of $4.77 billion, a P/E ratio of 14.47, a PEG ratio of 1.11 and a beta of 0.49. Portland General Electric has a one year low of $40.05 and a one year high of $49.85. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.92. The firm has a 50-day moving average of $43.53 and a two-hundred day moving average of $44.41.

Portland General Electric (NYSE:POR) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Portland General Electric had a return on equity of 9.10% and a net margin of 9.13%. The business had revenue of $824.00 million for the quarter, compared to analysts’ expectations of $716.17 million. During the same period last year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that Portland General Electric will post 3.21 EPS for the current fiscal year.

Insider Activity at Portland General Electric

In other Portland General Electric news, CFO Joseph R. Trpik, Jr. sold 1,375 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $41.32, for a total transaction of $56,815.00. Following the sale, the chief financial officer now directly owns 31,960 shares of the company’s stock, valued at $1,320,587.20. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Benjamin Felton sold 1,845 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $43.02, for a total value of $79,371.90. Following the transaction, the executive vice president now directly owns 32,646 shares in the company, valued at approximately $1,404,430.92. This represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,795 shares of company stock valued at $159,946. Insiders own 0.40% of the company’s stock.

Institutional Trading of Portland General Electric

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of Portland General Electric during the fourth quarter valued at approximately $27,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Portland General Electric during the fourth quarter worth $29,000. Global X Japan Co. Ltd. grew its holdings in shares of Portland General Electric by 113.1% in the first quarter. Global X Japan Co. Ltd. now owns 650 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 345 shares during the last quarter. Versant Capital Management Inc increased its stake in Portland General Electric by 151.0% in the 4th quarter. Versant Capital Management Inc now owns 748 shares of the utilities provider’s stock worth $33,000 after buying an additional 450 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in Portland General Electric by 1,538.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 819 shares of the utilities provider’s stock valued at $36,000 after buying an additional 769 shares during the period.

About Portland General Electric

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.